Cognetas sells KSM Castings to China's CITIC Dicastal

The disposal of the cast aluminum wheel supplier is thought to be worth €300m

By

Marietta Cauchi

July 8, 2011 2:21 p.m. GMT

London-based buyout firm Cognetas Thursday said it has agreed to sell KSM Castings Group to China's CITIC Dicastal Manufacturing, one of the world's largest suppliers of cast aluminum wheels for the automotive industry.

Financial details of the transaction weren't disclosed, but a person close to the process said the deal was worth around €300m.